How Long Does it Take to Save a Month’s Worth of Expenses?

Saving a month worth of expenses

We often talk about the importance of saving an emergency fund. You’ve probably heard financial experts suggest building an emergency fund that is equal to three to six months’ worth of expenses. Have you ever thought about just how long it takes to save even one month of expenses? The formula to figure out just […]

Published or Updated: April 8, 2014

DR 050: How to Prepare as You Near Retirement [Interview with Author Emily Birken]

5 Years Before You Retire

Podcast: Play in new window | Download | EmbedAre you ready to retire? Have you done all of the things you should have in the few years leading up to retirement? These are the questions our guest today has answered in her comprehensive book on retirement readiness, The Five Years Before You Retire. I had […]

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Published or Updated: April 3, 2014

How Much Monthly Income Can Your Retirement Savings Generate?

Personal Capital FSI

If you’ve listened to the 31-Day Money Challenge, you know that Personal Capital was one of our sponsors. I was happy to have them sponsor the series because I’ve used Personal Capital for quite some time, and I like the tool a lot. Personal Capital is a free online tool that lets you connect all […]

Published or Updated: April 2, 2014

5 Resources to Help You Allocate Your Retirement Assets

Vanguard Target Retirement 2050 Fund

This article is a companion piece to the podcast on how much of your retirement nest egg you should invest in stocks. Here I’ll share some resources that can help you make this important decision. 1. Target Date Retirement Funds Vanguard (among other companies) offers target date retirement funds. These fund of funds, as they […]

Published or Updated: April 2, 2014

DR 049: How Much of Your Retirement Nest Egg Should You Invest in Stocks?

Untitled spreadsheet

Podcast: Play in new window | Download | EmbedIn the 31-Day Money Challenge, we covered the basics of asset allocation. Today we are going to focus more specifically on how much to invest in stocks and how much in bonds. The stock/bond allocation is the most important piece of asset allocation. The question of stocks […]

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Published or Updated: April 2, 2014

Betterment Review – Online Investing Made Easy

Betterment Add Withdraw Money

When it comes to investing, one of the most important factors is cost. That’s why it is important to invest in low cost mutual funds and ETFs, and to use a low cost broker if you buy individuals stocks and bonds. And that brings me to this review of Betterment, an online tool that makes […]

Published or Updated: April 1, 2014

DR 048: How to Deal with Your Debt–An Interview with Author Liz Weston

Liz Weston

Podcast: Play in new window | Download | EmbedThe four letter word of personal finance is debt.  Most of us have it; none of us wants it.  I’ve written a lot about how to get out of debt.  Today I’m excited to have Liz Weston, author of Deal With Your Debt, on the podcast. We […]

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Published or Updated: March 30, 2014

DR 047: How to Value a Coin Collection

1878 S Morgan Silver Dollar MS65

Podcast: Play in new window | Download | EmbedI recently started collecting coins. I only have a handful right now: mainly Morgan silver dollars. I tend to just pay $40 or $50 for a nice coin, and I don’t have a particularly valuable collection. I just enjoy collecting them. One of my coins is a […]

Published or Updated: March 30, 2014

Take Advantage of the IRA Catch-Up Rule

Google spreadsheets future value function

In reading about retirement lately, I’ve been reminded of an important money tip. If you’re 50 or older, remember to take advantage of the $1,000 IRA catch up contribution. When you’re 50+, you can contribute more to an IRA than younger folks can. That extra $1,000 added to the limit can make a big difference. […]

Published or Updated: March 27, 2014